Physical Address
60 Ekwema Cres, Layout 460281, Imo
Egypt’s Proptech Nawy Raises $75 Million in Series A Funding to Expand into MENA
Egypt’s proptech startup Nawy raises a huge $75 million in Series A funding. This money comes from $52 million in equity and $23 million in loans from some of Egypt’s biggest banks. The funding round was led by Partech Africa, a venture capital firm that focuses on African startups. This is one of the biggest Series A funding rounds ever for a startup in Africa and sets a new record in the property technology (proptech) world on the continent.
Nawy’s Series A funding attracted many well-known investors like Development Partners International’s Nclude Fund, e& Capital, Endeavor Catalyst, HOF Capital, and others. This shows that many people believe in Nawy’s vision and Egypt’s growing tech scene.
Nawy was started in 2019 by Mostafa El Beltagy and four other founders. Mostafa used to work at Vodafone and was frustrated by how hard it was to buy or invest in property in Egypt. He found the market confusing and full of problems. You had to visit many developers, collect brochures, and trust salespeople who might not always be honest. This experience made him want to create a better way to buy and sell property.
Nawy’s platform brings together property listings with easy-to-use brokerage and financial services. This means people can find properties, get help buying or selling, and even get financing all in one place. Today, Nawy is the biggest proptech platform in Africa. Over one million people visit the site every month, and more than 3,000 real estate brokers use their special B2B tool called Nawy Partners.
Nawy is not just about listings and brokers. They also have new ideas like Nawy Shares, which lets people invest in property starting with just $500. They also created Nawy Now, a “Move Now, Pay Later” mortgage plan that helps people buy homes with easy monthly payments. This is important because getting a traditional home loan in Egypt is often very difficult. Recently, Nawy bought a property management company called ROA and renamed it Nawy Unlocked. This service helps turn empty or unused properties into places that earn money through renting.
Even though Egypt’s economy has faced challenges, like the Egyptian pound losing a lot of value, Nawy has done very well. Their total property sales jumped from $38 million in 2020 to over $1.4 billion in 2024. Their income has grown 50 times in the last few years, and the company is now making a profit. This shows how strong the demand is for real estate, especially as people look for ways to protect their money from inflation.
With this new $75 million from Nawy’s Series A funding, the company plans to grow beyond Egypt. They want to enter other fast-growing markets in the Middle East and North Africa, like Morocco, Saudi Arabia, and the UAE. They also plan to buy smaller companies, improve their technology, and use artificial intelligence to make their services even better.
Tidjane Deme from Partech Africa said he is excited to support Nawy because they are building a modern, tech-driven real estate experience. He believes Nawy is becoming the top proptech company not just in Africa, but also in the Middle East.
Egypt’s proptech Nawy raises $75 million in Series A funding to grow bigger and better. This money will help them bring their smart real estate platform to more countries and make buying and selling property easier for many people. It’s a big step for Nawy and a sign that Egypt’s tech startups are getting stronger and attracting more investors.
Was this information useful? Drop a nice comment below. You can also check out other useful contents by following us on X/Twitter @siliconafritech, Instagram @Siliconafricatech, or Facebook @SiliconAfrica.
